Sector Update: Healthcare Shares Mixe Pre-Market; UnitedHealth Down 2% on Q4 Results

By Staff,

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Healthcare stocks:

JNJ: +0.22%

PFE: flat

ABT: flat

MRK: -0.46%

AMGN: -0.35%

Healthcare shares are mixed in pre-market trade.

Health and well-being company UnitedHealth Group Inc. ( UNH ) is down more than 2% this morning after it reported Q4 diluted EPS of $1.41, a penny better than the analyst consensus on Capital IQ. Revenues for the period totaled $31.1 billion, up from $28.8 billion last year and in line with expectations.

The company continues to estimate 2014 revenues of $128 billion to $129 billion and net earnings in the range of $5.40 to $5.60 per share. The Street is at $131.9 bln in revenue and earnings of $5.62 per share.

UNH is up 4.2% at $78 apiece in the pre-market session.

And, Life science tools maker Illumina Inc. ( ILMN ) has entered into an agreement with Amgen Inc. ( AMGN ) to develop and commercialize a multigene, NGS-based test as a companion diagnostic for Vectibix for the treatment of metastatic colorectal cancer.

Vectibix has been approved in the U.S. and EU. Under the terms of the collaboration, the companies will seek premarket approval of the test by the US Food and Drug Administration (FDA) and other regulatory bodies. The test will be developed for use with Illumina's MiSeqDx instrument, which received premarket clearance from the FDA and was CE-marked for the European Union in 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: AMGN , ILMN , UNH

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